(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading
Symbol(s)
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Name of each exchange
on which registered
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||
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Item 2.02
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Results of Operations and Financial Condition.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
|
|
Press Release dated March 28, 2022.
|
||
104
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Cover page interactive data file (embedded within the inline XBRL document).
|
KINNATE BIOPHARMA INC.
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||
By:
|
/s/ Nima Farzan
|
|
Nima Farzan
|
||
President and Chief Executive Officer
|
• |
Announced that three abstracts highlighting data from KIN-2787 have been accepted for presentation at the upcoming American Association for Cancer Research
(AACR) Annual Meeting 2022, to be held April 8-13, in New Orleans, Louisiana. KIN-2787 is an orally available small molecule pan-RAF inhibitor being developed for the treatment of patients with lung cancer, melanoma, and other solid tumors.
The three abstracts include:
|
o |
Occurrence of BRAF class II and III alterations is common across solid
tumors and is associated with inferior clinical outcomes in NSCLC and melanoma (PAN# 4122);
|
o |
Design and rationale of a first in human (FIH) Phase 1/1b study evaluating
KIN-2787, a potent and highly selective pan-RAF inhibitor, in adult patients with BRAF- and NRAS-mutation positive solid tumors (PAN# CT248); and
|
o |
Antitumor activity of KIN-2787, a next-generation pan-RAF inhibitor, in
preclinical models of human RAF/RAS mutant melanoma (PAN# 2674).
|
• |
Presented findings from a collaborative study with Tempus investigating the prevalence of Class II and Class III alterations among patients with BRAF-mutated
solid tumors. These findings were presented as an e-Poster at the virtual European Society for Medical Oncology (ESMO) Targeted Anticancer Therapies Congress (TAT). The meeting took place March 7-9, 2022.
|
• |
Delivered an oral presentation of KIN-2787 preclinical data at the virtual IASLC 2022 Targeted Therapies of Lung Cancer meeting which took place February
22-26, 2022. In this study, KIN-2787 activity was assessed by suppression of downstream MAPK pathway signaling and subsequent cell growth inhibition across BRAF-altered and/or RAS-altered versus wild type panels of human non-small cell lung
cancer (NSCLC) cell lines.
|
• |
Announced the presentation of updates from preclinical studies evaluating its Fibroblast Growth Factor Receptor (FGFR) inhibitor candidate, KIN-3248, a
next-generation pan-FGFR inhibitor being developed for intrahepatic cholangiocarcinoma (ICC) and urothelial carcinoma (UC) and other solid tumors. These findings were presented during a poster session at the ASCO Gastrointestinal Cancers
Symposium which took place January 20-22, 2022.
|
• |
On January 18, 2022 announced that the U.S Food and Drug Administration (FDA) has cleared the company’s Investigational New Drug (IND) application for
KIN-3248. The Phase 1 trial initiated in the first quarter of 2022 and will evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics and anti-cancer activity of KIN-3248 in FGFR inhibitor naïve and pretreated cancer patients
with FGFR2 and/or FGFR3 gene alterations.
|
• |
Full year net loss for 2021 was $89.8 million, compared to $35.8 million in 2020.
|
• |
Full year research and development expenses for 2021 were $67.2 million, compared to $29.2 million in 2020.
|
• |
Full year general and administrative expenses for 2021 increased to $22.9 million, compared to $6.8 million in 2020.
|
• |
As of December 31, 2021, the total of cash and cash equivalents and short-term investments was $324.9 million, exclusive of the joint venture’s cash.
|
• |
Initial monotherapy data from the ongoing KN-8701 Phase 1 trial expected in the third quarter of 2022.
|
• |
Initiation of the combination portion of KN-8701 to study KIN-2787 with binimetinib in NRAS-mutant melanoma expected in the first half of 2022 with initial
data expected by year end 2022.
|
• |
Initiation of a Phase 1 trial in Greater China by Kinnjiu expected in mid-2022.
|
• |
Initial data from ongoing KN-4802 Phase 1 trial expected in the second half of 2023.
|
• |
Goal to generate one IND filing a year from the company’s Kinnate Discovery Engine.
|
• |
Announcement of the company’s next pipeline target expected in the second half of 2022.
|
December 31,
|
||||||||
2021
|
2020
|
|||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
116,096
|
$
|
365,462
|
||||
Cash at consolidated joint venture
|
33,593
|
-
|
||||||
Short-term investments
|
103,362
|
31,398
|
||||||
Prepaid expenses and other current assets
|
5,639
|
3,343
|
||||||
Total current assets
|
258,690
|
400,203
|
||||||
Property and equipment, net
|
956
|
368
|
||||||
Long-term investments
|
105,449
|
-
|
||||||
Restricted cash
|
371
|
-
|
||||||
Deferred offering costs
|
641
|
-
|
||||||
Other non-current assets
|
757
|
-
|
||||||
Total assets
|
$
|
366,864
|
$
|
400,571
|
||||
Liabilities, Redeemable Convertible Noncontrolling Interests and Stockholders' Equity
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
3,148
|
$
|
3,940
|
||||
Accrued expenses
|
9,239
|
3,364
|
||||||
Total current liabilities
|
12,387
|
7,304
|
||||||
Redeemable convertible noncontrolling interests
|
35,000
|
-
|
||||||
Stockholders’ equity:
|
||||||||
Preferred stock, $0.0001 par value; 200,000,000 shares authorized at
December 31, 2021 and 2020; 0 shares outstanding at December 31, 2021 and 2020
|
-
|
-
|
||||||
Common stock, $0.0001 par value; 1,000,000,000 shares authorized at
December 31, 2021 and 2020; 43,855,944 and 43,477,439 shares issued and outstanding at December 31, 2021 and 2020, respectively
|
4
|
4
|
||||||
Additional paid-in capital
|
463,089
|
446,601
|
||||||
Accumulated other comprehensive loss
|
(524
|
)
|
(9
|
)
|
||||
Accumulated deficit
|
(143,092
|
)
|
(53,329
|
)
|
||||
Total stockholders’ equity
|
319,477
|
393,267
|
||||||
Total liabilities, redeemable convertible noncontrolling interests and stockholders' equity
|
$
|
366,864
|
$
|
400,571
|
Years Ended December 31,
|
||||||||
2021
|
2020
|
|||||||
Operating expenses:
|
||||||||
Research and development
|
$
|
67,166
|
$
|
29,237
|
||||
General and administrative
|
22,945
|
6,764
|
||||||
Total operating expenses
|
90,111
|
36,001
|
||||||
Loss from operations
|
(90,111
|
)
|
(36,001
|
)
|
||||
Other income, net
|
348
|
240
|
||||||
Net loss
|
(89,763
|
)
|
(35,761
|
)
|
||||
Net loss attributable to redeemable convertible noncontrolling interests
|
-
|
-
|
||||||
Net loss attributable to Kinnate
|
$
|
(89,763
|
)
|
$
|
(35,761
|
)
|
||
Weighted-average shares outstanding, basic and diluted
|
43,601,162
|
6,767,591
|
||||||
Net loss per share, basic and diluted
|
$
|
(2.06
|
)
|
$
|
(5.28
|
)
|
||
Comprehensive loss:
|
||||||||
Net loss
|
$
|
(89,763
|
)
|
$
|
(35,761
|
)
|
||
Other comprehensive loss:
|
||||||||
Unrealized loss on investments
|
(515
|
)
|
(9
|
)
|
||||
Total comprehensive loss
|
(90,278
|
)
|
(35,770
|
)
|
||||
Comprehensive loss attributable to redeemable convertible noncontrolling interests
|
-
|
-
|
||||||
Comprehensive loss attributable to Kinnate
|
$
|
(90,278
|
)
|
$
|
(35,770
|
)
|
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Document and Entity Information |
Mar. 28, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Mar. 28, 2022 |
Entity Registrant Name | KINNATE BIOPHARMA INC. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-39743 |
Entity Tax Identification Number | 82-4566526 |
Entity Address, Address Line One | 3611 Valley Centre Drive |
Entity Address, Address Line Two | Suite 175 |
Entity Address, City or Town | San Diego |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92130 |
City Area Code | 858 |
Local Phone Number | 299-4699 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Central Index Key | 0001797768 |
Title of 12(b) Security | Common Stock, par value $0.0001 per share |
Trading Symbol | KNTE |
Security Exchange Name | NASDAQ |
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